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Q.
What is the CFA® Program?
A. The CFA® program is a highly
acclaimed professional qualification in investment management. The
qualification is based upon the curriculum and examinations
conducted by the CFA Institute. CFA Institute is the organization
that founded the program in 1947 and has continued to administer the
program. Candidates who successfully complete the program receive a
Charter from CFA Institute, and the right to use the professional
designation of Chartered Financial Analyst®.
Q.
How long does it take to complete?
The CFA Program requires the
candidate to pass three separate exams, Levels 1, 2 and 3
successively. The Level 1 exam is conducted twice each year, in June and
December while Level 2 and Level 3 exams are conducted once each year in June.
It is possible to pass the three exams consecutively over a two and
a half year study period. Most candidates however spend 3 years to
pass the exam while staying fully involved in their professional
careers.
Q.
What is the CFA® Program curriculum?
The CFA institute has
developed a core body of knowledge for investment management and
finance which forms the basis of the three exams, with successively
greater depth of material coverage as you proceed along the three
levels. The curriculum is available at the CFA Institute website for
public review.
Q.
What are the curriculum topic areas for the CFA® Level 1 exam?
The curriculum for the CFA® Level 1 exam
covers the following subject areas; Quantitative Methods, Portfolio
Management, Corporate Finance, Economics, Financial Statement
Analysis, Fixed Income & Equity Valuation, Derivatives, Alternative
Assets and CFA Institute's Ethical Standards in Investment Practice.
Q.
Where can I find books for the CFA® study?
The CFA Institute provides the
books for each exam level when a candidate registers for the exam.
The cost of the books is part of the registration fee paid to the
CFA Institute. The CFA course books are also available from the CFA
Institute website for others who wish to purchase them.
Q.
Where is the CFA® exam be held?
The CFA® exams are held at
several locations across the world in the main cities in virtually
every country of the world. The candidate chooses the exam location
based proximity to themselves. A complete list of exam locations is
available on the CFA Institute website. In London, the exam has
been regularly held at London Excel.
Q.
When is the CFA® exam held?
The CFA® Level 1 exam is held twice
a year in June and December while the Level 2 and Level 3 exams are held once
each year in June only.
Q.
How is the CFA Charter Awarded?
A candidate who passes the
three exam levels becomes a charter-pending candidate. The CFA
Institute then reviews the candidate's length and quality of work
experience in investments management, Finance or one of several
other related practices to assess the award of the Charter. The
current requirement is approximately four years of such experience
for award of the Charter. The experience can be accumulated, before,
after or during the exam study phase. Entry level jobs like trainee
equities analyst, financial analyst, risk analyst, portfolio
assistant, junior fixed income analyst, all generally qualify to be
counted as relevant experience. The CFA Institute provides details
of experience requirements on their website.
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